税收新政落地 黄金回收市场震荡

Core Insights - The new gold tax policy in China is impacting the gold recycling market, leading to reduced consumer willingness to sell gold jewelry due to perceived losses from price discrepancies [1][2] - The implementation of the tax policy is expected to promote transparency and standardization in the gold recycling market, benefiting compliant businesses [1][2] Group 1: Market Impact - As of November 11, gold investment prices are at 965 CNY per gram, while jewelry gold is priced at 1097 CNY per gram, and recycling prices are at 933 CNY per gram [1] - The first week after the tax policy's implementation saw a decrease in customer traffic and a decline in recycling business in key markets like Shui Bei [1][2] Group 2: Future Market Structure - The gold recycling market is anticipated to evolve into a structure dominated by compliant entities, with a trend towards channel differentiation and service upgrades [2] - The tax policy is expected to eliminate non-compliant players and support regulated businesses, leading to a market structure characterized by "banks + leading gold companies + compliant platforms" [2]